Stock Groups

Boeing deliveries remain low as 787 problems weigh -Breaking

[ad_1]

© Reuters. FILE PHOTO A Boeing 787-10 Dreamliner passes the Final Assembly Building at Boeing South Carolina. North Charleston, South Carolina USA, 31 March 2017. REUTERS/Randall Hill/File Photograph

(Reuters) -Boeing Co announced Tuesday that it had delivered 32 aircraft to customers in January, as the impact of its 787 Dreamliner program on planemaker’s ability for a rebound in aviation was still evident.

Boeing (NYSE 🙂 stated that 27 737 MAX planes were handed over by the company in January. Three widebody aircraft also went to Boeing, one of which was a 777 cargoer.

Seven of the 27 MAX delivery were made to Ryanair in Ireland, and one was delivered by China Eastern Airlines (NYSE :).

Boeing handed over https://www.boeing.com/commercial 38 jets in December and 34 in November.

A seasonal drop is reflected in the lower January delivery numbers. Boeing delivered 26 planes in January compared to the previous year.

Boeing needs the 737 MAX as well the 787 Dreamliner to be able to overcome the pandemic, catch up with Airbus and recover. Airbus has lost for the third year in a row on the European delivery race.

Planemakers have seen increased demand for freighters and passenger planes that fly medium distances after reducing production due to the pandemic. They are now rushing to increase production.

Boeing was unable to meet its Dreamliner production schedule and has been subject to $4.5 billion of charges. Customers also had to pay penalties for reversing deliveries.

Boeing received 77 gross orders in January. This includes 22 freighters and 55 MAX planes. As a result, cargo planes continue to lead sales in an ecommerce boom.

One hundred and fourteen freighter orders came from Qatar Airways, for the model 777-8. Boeing was last month presented with an order by the airline for 34 new 777X freighters as well as 25 737-10 MAX aircraft.

Twenty of the January 737 MAX orders were placed from unspecified customers. The remaining 35 came from American Airlines Group Inc (NASDAQ:) and Southwest Airlines Co (NYSE:) Co.

Boeing had two cancellations of the 737 MAX aircraft in January. This brought Boeing’s total net order to 75.

Airbus delivered 30 planes in January.

Airbus and Qatar Airways have been locked in a $600 million safety and contractual dispute. Tuesday’s action came after Qatar Airways cancelled orders for two A350 1000 jets from Airbus. This was just days after it had cancelled an order for 50 A321neos from Airbus.

Qatar Airways sued Airbus over $600 Million. The airline is refusing further deliveries of A350s to Qatar Airways until it receives an analysis by its regulator of damage to 21 A350s’ painted surfaces and lightning protection.

Airbus had to include cancellations on 50 A321neos (and two A350 1000s) in its January monthly summary, which pushed it into negative territory. It received 36 more orders, but a total of 16 orders.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, futures, indexes and Forex. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts, buy/sell signal, and quotes. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]